PSX rebounds as KSE-100 gains 2,593 points

Summary

• Investors also took encouragement from a decline in global oil prices, which eased concerns over external-sector pressures and energy costs.
• He said buying spread across commercial banks, oil and gas, cement, investment companies and the power sector.
• The latest recovery marks a sharp reversal from the previous session’s losses and indicates that investors remain highly responsive to political developments, international oil prices and geopolitical risks.

AI Generated Summary

The Pakistan Stock Exchange (PSX) staged a strong recovery on Tuesday, with the benchmark KSE-100 Index gaining 2,592.79 points, or 1.56%, to close at 168,460.11, as investors returned to the market amid improving political and global economic signals.

The market opened cautiously after the previous session’s heavy sell-off and margin-driven liquidation. However, buying interest gradually strengthened as investors responded positively to signs that political tensions could ease and that the government remained open to dialogue with the opposition.

Investor sentiment received a boost after Prime Minister Shehbaz Sharif urged the Pakistan Tehreek-e-Insaf (PTI) to call off its long march and abandon what he described as confrontational politics. The prime minister warned that continued protests could hurt economic activity and damage Pakistan’s international image.